Marathon Petroleum's Q2 Revenue, Earnings Slip Year-Over-Year, But Beat Analyst Expectations

Marathon Petroleum Corp. (NYSE:MPC) on Tuesday reported its second-quarter 2025 revenue of $34.101 billion, down from $38.4 billion in the prior-year period. Sales exceeded the analyst estimate of $30.963 billion.

Adjusted earnings per share of $3.96, down from $4.12 a year ago, above the analyst estimate of $3.48.

Net income attributable to Marathon Petroleum was $1.2 billion, or $3.96 per diluted share, compared with $1.5 billion, or $4.33 per diluted share, in the same quarter last year. Adjusted EBITDA came in at $3.286 billion, slightly lower than $3.415 billion a year ago.

In the Refining & Marketing segment, crude capacity utilization reached 97%, with throughput volumes of approximately 3.1 million barrels per day. The segment generated adjusted EBITDA of $1.890 billion, down from $2.022 billion in the second quarter of 2024.

The R&M margin was $17.58 per barrel, up slightly from $17.53 a year ago, while refining operating costs rose to $5.34 per barrel from $4.91. Segment EBITDA per ...